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MALAYSIA: Rubber glove manufacturers expect better earnings

"Latex is the main raw material for rubber gloves and nitrile gloves are made from crude oil by-product," said Supermax Corp Bhd executive chairman/group managing director, Datuk Seri Stanley Thai Kim Sim. Thai, one of the panel members, said this at MARGMA's question-and-answer session in Kuala Lumpur on 11th Februrary, 2015. "If oil prices continue to drop to USD 40 from the current USD 50 per barrel, it will allow rubber gloves to be competitively priced," he said. He said lower crude oil prices would also translate into lower logistics and transportation costs. "In tandem with this, the rubber glove industry is projected to grow positively this year, at annual growth of eight to 10 per cent," he said. Globally, Malaysia remained as the largest supplier of rubber gloves with an estimated global market share of 62 per cent and is projected to grow to 65 per cent in 2020, he said. Source: "Bernama" (National News Agency of Malaysia), Kuala Lumpur; 11 Feb 2015(Syed Rashid Ali, Karachi, Pakistan)

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